Daily News: February 13, 2014

WSJ: Citigroup, Others Provide Alibaba $8B Financing

The Wall Street Journal reported Chinese e-commerce company Alibaba Group Holding obtained $8 billion in financing from nine banks, a source told the Journal . Citigroup and others were said to have provided the financing.

According to the Journal , the banks include Australia & New Zealand Banking Group, Credit Suisse Group AG, Citigroup, Deutsche Bank AG, DBS Group Holdings, HSBC Holdings PLC, J.P. Morgan Chase & Co., Morgan Stanley and Mizuho Corporate Bank, the source said.

The financing comprises three tranches: a $2.5 billion three-year term loan, a $4 billion five-year term loan and a $1.5 billion three-year revolving credit facility, the source told the Journal .

To read the entire Journal article, click here.